The approved rate is lower than the current rate of $0.4863, but higher than the no-new-revenue rate of $0.3966. The no-new-revenue rate is the tax rate at which the city would raise the same amount of property tax revenue as it did the previous fiscal year before taking into account newly-built properties.
A city presentation indicates that under the new rate, the average Pflugerville homeowner can expect an increase in their yearly tax bill of 11.7%, or approximately $155, due to higher property values.
The rate brings the city's total expected tax levy for FY 2022-23 to $44.1 million, up approximately 20% from $36.8 million in FY 2021-22.
At the same meeting, the council voted to adopt the city's budget for FY 2022-23. The approved budget includes $380.6 million in expenditures and $245 million in revenue. The city will dip into its fund balance to cover the deficit.
Of the total expenditures, approximately $63.4 million is allocated to the general fund, which includes salaries for city staff and expenses related to public safety.
The budget also includes $156.2 million in expenses allocated to the utility capital projects fund, which will go toward several major water and wastewater infrastructure projects.
The full budget is available to view on the city's website; however, the budget approved Sept. 13 contains a few changes not reflected in the proposed version posted online, such as added or reclassified staffing positions.
